Shares of IDEX Co. (NYSE:IEX) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $146.22.
A number of research analysts have issued reports on IEX shares. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Thursday, December 13th. Boenning Scattergood reissued a “hold” rating on shares of IDEX in a research report on Wednesday, January 30th. Finally, Royal Bank of Canada raised shares of IDEX from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $141.00 to $146.00 in a research report on Thursday, January 3rd.
Shares of IDEX stock opened at $149.19 on Friday. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.43. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 2.55 and a beta of 1.28. IDEX has a 12-month low of $117.72 and a 12-month high of $157.84.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. The business had revenue of $614.09 million for the quarter, compared to the consensus estimate of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 EPS. On average, analysts forecast that IDEX will post 5.73 earnings per share for the current year.
In other news, VP Michael J. Yates sold 11,397 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total value of $1,649,373.84. Following the sale, the vice president now directly owns 26,590 shares of the company’s stock, valued at approximately $3,848,104.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $143.02, for a total transaction of $322,510.10. Following the completion of the sale, the senior vice president now directly owns 2,255 shares in the company, valued at $322,510.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in IEX. Quantamental Technologies LLC bought a new position in IDEX in the 4th quarter worth about $25,000. Lindbrook Capital LLC bought a new position in IDEX in the 4th quarter worth about $32,000. Essex Investment Management Co. LLC bought a new position in IDEX in the 4th quarter worth about $33,000. JOYN Advisors Inc. boosted its stake in IDEX by 51.4% in the 4th quarter. JOYN Advisors Inc. now owns 265 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in IDEX in the 4th quarter worth about $35,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
Read More: What are gap-down stocks?
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.